Principal Financial Group (NYSE:PFG) Given New $90.00 Price Target at Keefe, Bruyette & Woods

Principal Financial Group (NYSE:PFG) had its target price cut by stock analysts at Keefe, Bruyette & Woods from $93.00 to $90.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 17.65% from the stock’s previous close.

Several other brokerages have also recently weighed in on PFG. Piper Sandler upgraded Principal Financial Group from a “neutral” rating to an “overweight” rating and set a $90.00 price objective for the company in a report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on Principal Financial Group from $87.00 to $91.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 19th. Bank of America reduced their price objective on Principal Financial Group from $94.00 to $91.00 and set a “neutral” rating for the company in a report on Thursday, October 10th. Morgan Stanley reiterated an “underweight” rating and issued a $80.00 price target (down from $86.00) on shares of Principal Financial Group in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $95.00 to $92.00 in a research report on Tuesday. Four analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Principal Financial Group currently has a consensus rating of “Hold” and an average price target of $84.75.

Principal Financial Group Stock Down 2.3 %

Shares of PFG traded down $1.83 during midday trading on Friday, hitting $76.50. The stock had a trading volume of 149,756 shares, compared to its average volume of 859,782. The company has a 50 day simple moving average of $81.91 and a two-hundred day simple moving average of $82.16. Principal Financial Group has a twelve month low of $72.21 and a twelve month high of $91.97. The firm has a market cap of $17.50 billion, a price-to-earnings ratio of -85.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.30 and a quick ratio of 0.30.

Principal Financial Group (NYSE:PFG) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.02 by ($0.26). Principal Financial Group had a negative net margin of 1.47% and a positive return on equity of 14.67%. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the prior year, the business earned $1.72 EPS. On average, analysts anticipate that Principal Financial Group will post 7.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peterson Financial Group Inc. purchased a new stake in shares of Principal Financial Group in the third quarter worth $33,000. Truvestments Capital LLC purchased a new position in shares of Principal Financial Group in the 3rd quarter worth $43,000. Prospera Private Wealth LLC bought a new stake in shares of Principal Financial Group in the 3rd quarter worth about $45,000. Capital Performance Advisors LLP bought a new stake in shares of Principal Financial Group in the 3rd quarter worth about $50,000. Finally, Pinnacle Financial Partners Inc bought a new stake in Principal Financial Group during the 3rd quarter valued at about $57,000. Institutional investors own 75.08% of the company’s stock.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.